Edited by arbman, 17 March 2011 - 03:02 PM.
This market is now in trouble...
Started by
arbman
, Mar 17 2011 03:01 PM
7 replies to this topic
#1
arbman
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Posted 17 March 2011 - 03:01 PM
RUT under performed, the leadership is not in growth, but in the energy and materials, this is just a bounce unfortunately. The breadth continue to lead down at this juncture, the breadth plurality today will help it turn, but more downside is highly likely.
#2
dasein
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Posted 17 March 2011 - 03:05 PM
mais, bien sur?
at least it is the luck of the Irish and the perserverance of the options writers that got us a good bounce today - they deserve to get happily plastered tonight in NYC!
where is Orange?
best,
klh
klh
#3
arbman
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Posted 17 March 2011 - 03:15 PM
It may not turn tomorrow immediately due to the expirations, but I think 1286 gap resistance should be tops, maybe 1290s to test the 1300 gap. The gap should not close unless Fed goes nuts...
#4
jack
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Posted 17 March 2011 - 04:19 PM
mais, bien sur?
at least it is the luck of the Irish and the perserverance of the options writers that got us a good bounce today - they deserve to get happily plastered tonight in NYC!
where is Orange?
thanks for that
#5
arbman
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Posted 17 March 2011 - 04:54 PM
This gap below should be closed ideally tomorrow, but then again it is the expiration Friday, they will want to open as high as possible for the index options at least... Then perhaps it dumps and closes around break even, or an hanging man...
#6
milbank
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Posted 17 March 2011 - 08:10 PM
mais, bien sur?
at least it is the luck of the Irish and the perserverance of the options writers that got us a good bounce today - they deserve to get happily plastered tonight in NYC!
where is Orange?
St. Patrick's Day is not a good day for the Oranges to be out and about.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#7
dcengr
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Posted 17 March 2011 - 08:35 PM
I don't know why you would be bearish on RUT underperforming today... it's the only one that made a higher low yesterday.
From tweeter feeds, a lot of traders were piling on short on RUT today.. Doug Kass twitted it to his followers.
I want to see where RUT opens tomorrow. But back test is at 810...
Qui custodiet ipsos custodes?
#8
arbman
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Posted 17 March 2011 - 09:52 PM
DC, I duly noted the out performance of RUT yesterday, but I trade what it is, not what I think it is. The easiest trade yesterday was going against the bears a day before the expirations and breadth was only better. The trade ended in my opinion today, but CBs had a different plan apparently... I didn't take any short, but I didn't want to remain long either. I wish RUT and growth performed a bit better today, I would've remained long...
Edited by arbman, 17 March 2011 - 09:53 PM.
